Building Details

Year Built 1937

Buildings 1

Stories 3

Listing Agency: Coldwell Banker Danforth

Listed By: Ben C. Snyder Show Phone

Source: Heartandhomesnw

Added: Oct 12 Changed: Oct 21 Last Checked: Oct 20 at 10:04PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Danforth

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Investment Insights

Based on property information with market context.

Built in 1937, this three-level duplex has updated units and a new roof. The existing layout could be reconfigured as a triplex, according to the property's described potential. Stamped architectural and structural plans, along with a geotechnical report, address two proposed detached accessory dwelling units. A new 6-inch sewer line was installed from the street two months ago.

On-site parking includes a one-car garage and five additional spaces. The property is multifamily-zoned, with plans and site work supporting consideration of additional residential improvements.

Key Highlights

• Three‑level duplex with updated units and a new roof
• Stamped architectural and structural plans for two DADUs, plus a geotechnical report
• New 6‑inch sewer line from the street installed two months ago

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$51,460

Cap Rate

6.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,029,200 $1.0M

Cap Rate 7%

$735,143 $735.1K

Cap Rate 9%

$571,778 $571.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,087 SF

Gross rent

$77.8K $25.20/SF

− Vacancy

−$4.3K −$1.39/SF

EGI

$73.5K $23.81/SF

− OpEx

−$22.1K −$7.14/SF

NOI

$51.5K $16.67/SF

Area

Snohomish County, WA

Vacancy

5.50%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,029,200

Cap Rate 7%

$735,143

Cap Rate 9%

$571,778

Alternative Uses

Best Use

Multifamily LT 5

$735.1K

$643.3K – $857.7K (±1% cap)

NOI $51,460 @ 7.0% cap · market cap 6.06%

Second Best

Apartment 5plus

$659.6K

$577.2K – $769.6K (±1% cap)

NOI $46,173 @ 7.0% cap · market cap 5.44%

Theoretical Best

Office A

$860.9K

$753.3K – $1.00M (±1% cap)

NOI $60,264 @ 7.0% cap · market cap 7.10%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

421

Businesses Nearby

Explore this area Business Placement

Demographics for 98043, WA

21,285

Population

9,493

Households

2.2

Avg Household Size

39

Median Age

42%

College-Educated

94%

High-School Grad

4.1 sq mi

ZIP Area

5,191

Density / Sq Mi

$101,408

Median Household Income

$59,982

Median Earnings

$1,966

Median Rent

$605,800

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - The three-level property has updated units, a new roof, and site plans for two detached accessory dwelling units.

Where is this duplex located?

The property is located at 5302 212th St SW Mountlake Terrace, WA.

What is the asking price?

The asking price for this property is $849,000.

What are key features of this property?

This property features: Three‑level duplex with updated units and a new roof; Stamped architectural and structural plans for two DADUs, plus a geotechnical report; New 6‑inch sewer line from the street installed two months ago